Cincinatti Financial vs. Penn National: Which Company is the Best Fit for You?

Quick Facts

• In general, Cincinatti Financial offers slightly cheaper premiums than Penn National
• Cincinatti Financial tends to be a much more affordable option for drivers who have received a ticket within the last few years
• Penn National offers more discounts than Cincinatti Financial

Cincinatti Financial vs. Penn National: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?

You might have narrowed your search down to Cincinatti Financial or Penn National, but between the two, which one will offer you less expensive prices?

Looking at nationwide averages, Cincinatti Financial is about $18 per month more affordable than Penn National.

Even so, Cincinatti Financial may not be the cheapest or best option for each driver out there. After all, car insurance companies can offer drastically different rates to each driver depending on rating factors like your age, your driving record, where you call home, or even your credit score (among other things), so premiums could change drastically from person to person.

Luckily, we've broken down average rates from both Cincinatti Financial and Penn National by a range of different rate factors, so read on to find out which carrier is the best for you.

Cincinatti Financial or Penn National: Average Car Insurance Rates by State

Cincinatti Financial and Penn National only compete against each other in two states, with Penn National offering cheaper prices to the average driver in all of them. Virginia has the most noticable difference, where Penn National premiums are over 70% less expensive than insurance prices at Cincinatti Financial.

That being said, there are plenty of other factors that go into your auto insurance cost than just where you live. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for car insurance compared to older drivers. That's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean teen drivers can't still save money on their auto insurance. As you can see above, teens who use Penn National save nearly $25 a month compared to those who use Cincinatti Financial.

However, with both carriers, you'll see your rates drop significantly by the time you turn 25. For example, average premiums for Cincinatti Financial policyholders lower more than $300 and Penn National's prices decrease almost $300 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the most affordable car insurance rates you'll ever see. After all, they've likely been driving for quite some time, which generally lowers their chances of accidents and other infractions that can increase prices.

When looking at Cincinatti Financial and Penn National specifically, which company is best for retired drivers? Cincinatti Financial gets the edge, with premiums for drivers 65 and older $41 more affordable than the national average for Penn National.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be less expensive for married couples than they are for single policyholders. That's usually because married policyholders tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, the two companies are comparable for those who are single, with premiums only differing around $9 per month, on average. But for married drivers, the advantage is clear - Cincinatti Financial has the edge when it comes to average rates.

Cincinatti Financial vs. Penn National: Average Rates by Gender

Men are statistically more likely than women to get tickets and get into collisions. That means when it comes to car insurance men will normally end up paying a little more.

Men usually pay about $15 a month more than women with Cincinatti Financial, and around $5 more with Penn National.

Looking at the data for each carrier specifically, Cincinatti Financial offers the lowest average prices for both men and women, with average rates $14 less for men and $22 cheaper for women.

Cincinatti Financial or Penn National: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

Insurance can be a complicated subject for most people. Everyone needs auto insurance, but there are so many different limits and terms that it can be hard to find the right policy.

That being said, most policies that many drivers look at fall into two categories -- liability only (that covers bodily injury and property damage for other drivers and passengers if you cause an accident) and full coverage (which typically refers to having comprehensive and collision coverages in addition to liability coverage).

In this case, Cincinatti Financial offers the cheapest average prices for state minimum liability insurance, while Penn National has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $40 with Cincinatti Financial, while full coverage comes out to be about $1 cheaper with Penn National Insurance.

Is Cincinatti Financial or Penn National Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that tickets and collisions lead to higher premiums, but which company -- Cincinatti Financial or Penn National -- has the lowest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Cincinatti Financial policyholders can expect their premiums to go up an average of $21 per month if they get a ticket, while Penn National generally raises rates around $40 a month, on average.

But Cincinatti Financial tends to offer the best prices for both drivers who have a recent speeding ticket and those with clean records -- their rates are around 12% more affordable for drivers with clean records and 20% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will raise premiums pretty significantly if you get into an at-fault accident with Cincinatti Financial raising by over $90. Penn National has a less extreme increase, but you can still expect to pay more than $65 more than you were prior to your first collision.

Overall, drivers who use Penn National end up with the cheaper prices after an accident, with monthly rates averaging $206 compared to Cincinatti Financial's $214.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your auto insurance bill. Penn National drivers usually see a 60% climb in their car insurance prices after a DUI charge, while Cincinatti Financial will normally raise rates by about 62%.

If you have a DUI on your record and are looking for more affordable premiums, Cincinatti Financial tends to be the much cheaper option with average prices of $320 per month compared to $346 from Penn National.

How does Credit Score Impact Cincinatti Financial and Penn National Rates?

In many cases, your credit score can come into play when companies calculate your monthly bill. This isn't always the case (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it does affect quite a few policyholders out there.

Auto insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

So, which carrier offers the most affordable rates for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, you'll usually find a better deal with Cincinatti Financial. Drivers with "excellent" credit can save just under 10% compared to Penn National, and those with "good" scores can also expect to see savings -- around $10 or 5% less expensive every month.

Which Company is Best for Drivers with Bad Credit?

Cincinatti Financial typically offers lower prices than Penn National when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about $10 per month less with Cincinatti Financial compared to Penn National, and those with "poor" scores generally save an average of around $39 a month.

Is Cincinatti Financial or Penn National Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a big impact on your monthly car insurance payment? That's because the more miles you drive, the more likely you are to get into a collision and cause an insurance claim.

In this case, neither Cincinatti Financial or Penn National report increasing premiums for drivers with higher annual mileage figures. Still, Cincinatti Financial comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle annually, with average rates of $200 a month for both.

Cincinatti Financial vs. Penn National: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your car can have a considerable impact on your monthly insurance bill. Usually, those who live in rural areas will pay less than policyholders in urban areas because of the small number of vehicles that are on the roads in those areas.

When comparing these two companies side-by-side, Cincinatti Financial tends to offer the cheapest option for drivers in urban and suburban areas, while Penn National wins in rural areas.

If you live in a rural area, you can expect to pay about $165 monthly with Penn National compared to Cincinatti Financial's $182. People in suburban areas pay around $197 with Cincinatti Financial compared to Penn National's $212 per month. For drivers in urban ZIP codes, Cincinatti Financial's average premiums are about $220 while Penn National offers prices around $275.

Cincinatti Financial vs. Penn National Discounts

Regardless of why you might be in the market for a new car insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many auto insurance discounts as you can.

The difficult part is finding all of the discounts you're eligible for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

In the section below, we've taken a look at all of the different discounts Cincinatti Financial and Penn National offer their customers so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

Penn National knocks Cincinatti Financial out of the park when it comes to the sheer number of discounts available, offering 16 different discounts to Cincinatti Financial's 16.

Both carriers offer quite a few of the same discounts -- like anti-theft discounts, discounts for being a good student, and group discounts -- but Penn National also offers ABS discounts, added pip option discounts, distant student discounts, and more that Cincinatti Financial does not.

On the flip side, Cincinatti Financial has a couple unique discounts of its own -- COVID-19 relief discount, discounts for being a homeowner, and special large ded discounts.

Final Thoughts: Is Cincinatti Financial or Penn National Best for You?

So, you've seen how different factors can affect your insurance premiums. We've shown you all the discounts each carrier offers, too. But, at the end of the day, is Cincinatti Financial or Penn National the best company for you, your vehicle, and your wallet?

Cincinatti Financial might be best for you if....

• You have a clean record.
• Your credit is below-average.
• You drive fewer than 12,000 miles each year.

Penn National might be best for you if...

• Your driving record contains an at-fault collision.
• You're looking for more protection with "full coverage" car insurance.
• You're buying insurance for a teen and looking for a wallet-friendly option.

We hope this guide has ben a valuable resource as you compare Cincinatti Financial and Penn National. We also hope we've given you the information you need to make the best decision when it comes to your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple companies, not just Cincinatti Financial and Penn National. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best auto insurance carriers in your area, all in just a few minutes.

Cincinatti Financial vs. Penn National FAQs

Is Cincinatti Financial or Penn National cheaper?

Looking just at the national average rates, Cincinatti Financial is the more affordable of the two companies, offering average rates of $200 per month compared to $218 for Penn National. That being said, Cincinatti Financial won't necessarily be the most affordable company for every driver, since there are multiple different variables that come into play when it comes to your insurance payment.

Who is better, Cincinatti Financial or Penn National?

Sadly, the real answer is "it depends.". No single carrier is "better" for each driver -- it all comes down to what your unique auto insurance profile looks like. For example, Penn National offers cheaper prices for drivers with an at-fault accident on their record, while Cincinatti Financial is more affordable for drivers who have less-than-stellar credit scores.

Why do Cincinatti Financial and Penn National offer me different rates?

Car insurance carriers take a look at a lot of different factors when calculating the premiums they charge policyholders. Things like your driving record, gender, age, where you live, and sometimes even things like your credit score can all be used. Both Cincinatti Financial and Penn National use different formulas, so each one will most likely offer different prices. The only real way to see which company is the lowest for you is by comparing personalized quotes from many different companies.

How do I know if Cincinatti Financial or Penn National is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the most affordable premium. And who knows, the best company for you might not be Cincinatti Financial or Penn National at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.